Photos: Phoenix Suns preseason 2017

Portland Trail Blazers head coach Terry Stotts watches his team play against the Phoenix Suns during the second quarter in pre-season NBA action at Talking Stick Resort Arena in Phoenix, Ariz. October 11, 2017.
Michael Chow/azcentral sports

Photos: Phoenix Suns preseason 2017

Phoenix Suns players put their arms around each other during the National Anthem before playing against the Portland Trail Blazers in pre-season NBA action at Talking Stick Resort Arena in Phoenix, Ariz. October 11, 2017.
Michael Chow/azcentral sports

Photos: Phoenix Suns preseason 2017

Phoenix Suns guard Elijah Millsap, left, has his shot blocked by Utah Jazz forward Joel Bolomboy (21) as he drives to the basket during the second half of a preseason NBA basketball game Monday, Oct. 9, 2017, in Phoenix.
Ralph Freso, AP

Photos: Phoenix Suns preseason 2017

Phoenix Suns center Alex Len (21) attempts a shot over the defense of Utah Jazz center Tony Bradley during the second half of a preseason NBA basketball game Monday, Oct. 9, 2017, in Phoenix. The Jazz defeated the Suns 120-102.
Ralph Freso, AP

Photos: Phoenix Suns preseason 2017

Phoenix Suns center Tyson Chandler (4) slaps hands with fans as he leaves the court after being ejected during the first half of a preseason NBA basketball game against the Utah Jazz Monday, Oct. 9, 2017, in Phoenix.
Ralph Freso, AP

Photos: Phoenix Suns preseason 2017

Utah Jazz guard Ricky Rubio, left, drives to the basket as he is guarded by Phoenix Suns' Eric Bledsoe during the first half of a preseason NBA basketball game, Monday, Oct. 9, 2017, in Phoenix.
Ralph Freso, AP

Photos: Phoenix Suns preseason 2017

Utah Jazz forward Ekpe Udoh (33) loses control of the ball under the basket as he is guarded by Phoenix Suns' Alex Len, left, and Josh Jackson (20) during the first half of a preseason NBA basketball game, Monday, Oct. 9, 2017, in Phoenix.
Ralph Freso, AP

Photos: Phoenix Suns preseason 2017

Utah Jazz coach Quin Snyder shouts to his team during the first half of a preseason NBA basketball game against the Phoenix Suns on Friday, Oct. 6, 2017, in Salt Lake City. (AP Photo/Rick Bowmer)
Rick Bowmer, AP

Photos: Phoenix Suns preseason 2017

Portland Trail Blazers center Jusuf Nurkic gets an elbow to the side of his head as he vies for a rebound with Phoenix Suns center Alex Len during the second half of an NBA basketball preseason game in Portland, Ore., Tuesday, Oct. 3, 2017.
Steve Dykes/AP

Photos: Phoenix Suns preseason 2017

Phoenix Suns guard Devin Booker drives to the basket on Portland Trail Blazers center Zach Collins during the second half of an NBA basketball preseason game in Portland, Ore., Tuesday, Oct. 3, 2017. The Suns won 114-112.
Steve Dykes/AP

Here’s how it would work: A five-year extension would kick in starting with the 2019-20 season (Phoenix would pick up its team option on Booker for the 2018-19 season).

Booker’s salary could be 25 percent of the salary cap, which is projected to be $108 million in 2019-20. (Booker could earn 30 percent of the cap if he makes an All-NBA team or is named Defensive Player of the Year.)

His first-year salary, using the 25 percent benchmark, would be $27 million. Assuming he receives the maximum eight percent raise each year based on the first-year salary, the five-year deal would be worth $156.6 million.

The annual salaries:

2019-20: $27 million

2020-21: $29.16 million

2021-22: $31.320 million

2022-23: $33.480 million

2023-24: $35.640 million

The obvious upside to the five-year extension is that it would keep Booker, one of the game’s better young players, in a Suns uniform through 2024.

Asked about a possible extension for Booker, Managing General Partner Robert Sarver said, “I’m not going to answer that.” But, he added, “Devin is working on his game and he’s determined to take his game to the next level. I would love to be in a position to do that.”

Booker, who recently said one of the reasons he admires Michael Jordan and Kobe Bryant is that they played their entire career with one team – with the exception of Jordan’s two-year stint with Washington – said he would love to sign an extension if offered next summer.

"I've been treated right from the day I was drafted, even when I was a rookie and didn't play much," he said. "The city of Phoenix took me in with open arms and made me a part of their family. I've learned the history and traditions of the team. I know how much the city cares about the franchise and that means a lot to me, playing somewhere where people actually care about the franchise.

"I love it here, I bought a house here and I intend to be here for a long time."

The Suns will have room under the salary cap to absorb an extension for Booker. The contracts of Eric Bledsoe, Tyson Chandler and Jared Dudley all come off the books after the 2018-19 season, freeing up about $38 million in salary.